With the data department on light mode yesterday, we noted the EUR/USD slowly drift in favor of the US dollar. This may be due to the risk aversion from the upcoming stress test results.

Looking at the EUR/USD chart, the currency pair continued south and hit a support near the line of 1.2720.

S&P 500 took a turn up and is now 1090+.

Oil is up at $78+.

Gold is slightly higher at $1195+ probably urged on by the weaker US dollar too.

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Earnings are better than expected from a number of big names and this is causing a rush of positivity across the market. To add to the party, existing home sales in US came out better than expected too and most of the data released from the Euro Zone is good.

Having said so, tomorrow marks the day the Euro Zone bank stress test results will be released and extreme caution is advised. There is no guaranteed outcome until the outcome happens! This can be either way. Highly important to note is like i mentioned previously, the market seems to be trading more emotionally rather than fundamentally these days and hence trade safely and not lose your shirt away!

German Ifo Business Climate, a closely watched data will be due tomorrow too.

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Ipad will be launched tomorrow in my location. You folks know i am a gimzo techno crazed koala. How i wish i can camp at the stores, bring my toothbrush even but…